Australian Dollar Technical Outlook

Published July 18th, 2008 - 06:20 GMT
Al Bawaba
Al Bawaba

The AUDUSD setback has reached and bounced from just above the 50% of .9475-.9849.



The drop from .9849 is clearly in 3 waves (corrective) to this point; therefore evidence continues to support bulls.  A cautious bullish bias is warranted against .9677.